Three-time Indy500 winner, Dario Franchitti, will drive the Lotus 25 in tribute to Jim Clark, who won the 1963 British Grand Prix in it.

David Coulthard, who won two British Grand Prix titles, said: “Silverstone Is steeped in Formula 1 history – it is a race that every driver wants to win and have on his CV. What better way to commemorate this special milestone than to reunite drivers and cars that have played such an important part in the Silverstone story?”

Johnny Herbert, 1995 British GrandPrix winner, added: “I always love coming back to Silverstone – you can sense the history and the atmosphere every time you walk through the gates.”

Other cars in the parade will include James Hunt’s McLaren and Sir Jack Brabham’s Cooper Climax.

The Silverstone 50 Parade will take place three times during the British Grand Prix on Friday, Saturday and Sunday.

Times have been set but could change, so fans who want to go should check.

The first British Grand Prix was held on October 2, 1948, two years before the inauguration of the FIA Formula One World Championship.

Tickets for the 2014 British Grand Prix, starting at £65 per person, are available at www.silverstone.co.uk or by calling 0844 3728 300.

For more information on the celebrations, check out 50.silverstone.co.uk